Assessment and Bonded Debt.
The assessed valuation of taxable property in Tacoma in 1903 was $22,468,988. The bonded indebtedness, exclusive of the water and light debt, is $1,743,000. The city has no floating indebtedness and has a sinking fund amounting to $135,734.52, largely invested in Tacoma city bonds bought in the market at 110. The city owns property valued at $3,250,000. The light and water debt of $2,080,000 represents the capital invested in a profitable business which produces a revenue to the city.